BP has appointed Meg O’Neill as its new chief executive, marking a historic first as the first woman to lead a major global oil company. She replaces Murray Auchincloss, who is stepping down less than two years after taking the helm.
The London-based energy giant said Auchincloss will exit after succeeding Bernard Looney, who was dismissed in 2023 for serious misconduct linked to undisclosed workplace relationships.
O’Neill, currently CEO of Australia’s Woodside Energy, is expected to double down on BP’s renewed focus on oil and gas, as the company scales back ambitions in renewables amid pressure from investors concerned about lagging profits and share performance.
“I look forward to helping BP do our part to meet the world’s energy needs,” O’Neill said.
Her appointment comes just three months after BP named a new chairman, Albert Manifold, signalling a decisive leadership reset. Earlier this year, BP announced a strategic pivot following investor frustration over underperformance compared with rivals such as Shell and Equinor, both of which have also slowed green energy investments.
Energy analyst Robin Mills, a former Shell executive, described the move as a clear refocus. “The new chairman has put his stamp on the business. There’s a sense that more urgency and fresh leadership were needed,” he said.
While Auchincloss sought to distance BP from earlier plans to cut oil and gas output, some shareholders were dissatisfied with the pace of change. According to Derren Nathan of Hargreaves Lansdown, the rapid succession of a new chairman and CEO shows BP’s “legacy clear-out is now complete.”
However, Nathan warned that O’Neill’s immediate task would be to boost profitability and defend BP from takeover risks, as consolidation accelerates across the global energy sector.
Who is Meg O’Neill?
O’Neill will be BP’s first externally appointed CEO. She will assume office on 1 April 2026, relocating from Perth, Australia, to London.
She spent 23 years at ExxonMobil, holding senior roles across Africa, Asia, the US and Europe, before joining Woodside Energy, where she led the company through its $28bn acquisition of BHP Petroleum in 2022, creating Australia’s largest listed energy firm.
At Woodside, O’Neill resisted binding net-zero commitments and cancelled some renewable projects, drawing criticism from climate activists. Despite this, BP praised her track record in scaling operations, driving growth and managing complex assets.
Until O’Neill formally assumes office, BP executive vice president Carol Howle will serve as interim CEO. Auchincloss will remain in an advisory role until December 2026.
BP said O’Neill’s mandate will centre on restoring market leadership, strengthening safety, driving innovation and delivering sustainable returns for shareholders.
